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4 Mar 2015
GBP/USD sidelined near weekly lows at 1.5345
FXStreet (Mumbai) - GBP/USD extended its downward trajectory in to the European early morning and remains below 1.54 threshold as markets turned risk averse ahead of services PMI reading.
GBP/USD stuck below 1.5400
The GBP/USD pair trades modestly flat at 1.5350 levels, retreating from day’s high previously posted at 1.5372. The cable trades cautious, little affected by latest impressive UK macro data as traders ditch riskier assets amid risk-off sentiments awaiting interest rate policy decision at the Bank of England tomorrow.
Moreover, the pair remains stuck below 1.5400 levels largely on a subdued US dollar ahead of crucial US jobs data due for release later in the day.
Meanwhile, in the day ahead, markets now focus on the upcoming UK Services PMI data for fresh cues on the currency pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5440 (100-DMA) levels. On the flip side, support is seen at 1.5342 below which it could extend losses to 1.5300 levels.
GBP/USD stuck below 1.5400
The GBP/USD pair trades modestly flat at 1.5350 levels, retreating from day’s high previously posted at 1.5372. The cable trades cautious, little affected by latest impressive UK macro data as traders ditch riskier assets amid risk-off sentiments awaiting interest rate policy decision at the Bank of England tomorrow.
Moreover, the pair remains stuck below 1.5400 levels largely on a subdued US dollar ahead of crucial US jobs data due for release later in the day.
Meanwhile, in the day ahead, markets now focus on the upcoming UK Services PMI data for fresh cues on the currency pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5440 (100-DMA) levels. On the flip side, support is seen at 1.5342 below which it could extend losses to 1.5300 levels.